Charting a December divergence, Nasdaq plunges to 50-day average Focus: Oil services and energy sectors finally take flight, Crude oil’s breakout, OIH, XLE, USO, HP, FLIR, SAVEU.S. stocks are off to a mixed December start amid a technically significant crude oil price breakout that remains underway. Against this backdrop, the Nasdaq Composite has violated major support, while the Dow Jones Industrial Average is building on the massive nearly 1,000-point November rally.

Closing out November, U.S. benchmarks sustain the technical breakout Focus: Semiconductor sector holds 16-year highs, SMH, AMD, POL, ROST, PFPTThe major U.S. benchmarks are mixed early Wednesday amid a nearly 8% intraday crude oil price spike following reports that OPEC will agree to a production cut. Against this backdrop, the Nasdaq Composite has turned lower, while the S&P 500 and Dow industrials have registered nominal new record highs.

Strong income gains in October set stage for consumer to shine Headline inflation up at 1.4% annual rate, highest in two yearsPersonal income had the biggest gain since April setting the stage for consumer spending in coming months, economists said.

Energy stocks soar as oil prices jump on hope of OPEC dealShares of energy companies surged in premarket trade Wednesday, as hopes for an OPEC deal to cut production sent crude oil futures soaring. The SPDR Energy Select Sector ETF ran up 3.4%, but it on course for a 16-month high. Among some of the sector heavyweights, shares of Exxon Mobil Corp. rose 2.1%, of Chevron Corp. gained 2%, of Transocean Ltd. surged 6%, of Schlumberger Ltd. shot up 3.2%, of Halliburton Co. gained 4.2% of Kinder Morgan Inc. rallied 3.7% and of Chesapeake Energy Corp. ran up 6%. Crude oil futures rocketed 8% in early trade, to cut production by 1.4 million barrels a day, and that Russia was considering deeper cuts.

Bull trend pauses, U.S. benchmarks pull in from record highs Focus: Retail sector pulls in from 52-week highs, XRT, NTAP, CMI, MAS, VALE U.S. stocks are lower early Monday, pressured amid recent crude-oil price volatility, and following last week’s four-session advance. Against this backdrop, the S&P 500 has pulled in from three straight closes atop the 2,200 mark, while the Russell 2000 Index risks snapping a 15-session winning streak, its longest since 1996.

Charting the approach of Dow 19,000 against rotational (and bullish) backdrop Focus: Oil services sector (still) pressing major resistance, OIH, IBM, MTSI, INCY, FCXThe major U.S. benchmarks continue to grind higher, extending the November rally in increasingly slow-motion form. Against this backdrop, the S&P 500 and Nasdaq Composite have reached all-time highs — uncharted territory — while the Dow industrials have briefly tagged the 19,000 mark for the first time on record.

Charting the approach of Dow 19,000 against rotational (and bullish) backdrop Focus: Oil services sector (still) pressing major resistance, OIH, IBM, MTSI, INCY, FCXThe major U.S. benchmarks continue to grind higher, extending the November rally in increasingly slow-motion form. Against this backdrop, the S&P 500 and Nasdaq Composite have reached all-time highs — uncharted territory — while the Dow industrials have briefly tagged the 19,000 mark for the first time on record.

Stock market ends slightly lower as dollar rally sparks concern Major indexes extend gains for second weekU.S. stocks edge lower, pulling back from near record levels as investors keep an eye on a continued rally by the U.S. dollar.

Nasdaq nails the range top, Dow pulls in from record highs Focus: Oil services sector presses the range top, OIH, UPS, AKAM, FNSR, AMCCU.S. stocks are off to a mixed Wednesday start, digesting a steep, and technically consequential, seven-session November rally. Against this backdrop, the Nasdaq Composite has come to life — after nailing the 5,287 resistance Tuesday — while the S&P 500 has pulled in modestly from the November peak.

Trump win and Republican sweep a ‘Goldilocks’ scenario for bank stocks Bank of America’s stock soars to 8-year high on heavy volume as sector extends post-election surgeBank stocks extended their surge toward eight-year highs as some analysts expected Donald Trump’s victory and the Republican sweep of Congress to provide a “goldilocks” scenario for the sector.

Dollar jumps to 1-year high on fiscal stimulus hopes Euro at lowest since last DecemberDollar soars on continued speculation that U.S. President-elect Donald Trump’s fiscal stimulus will boost the U.S. economy and lead to further rate increases by the Federal Reserve.

It may be time to take some Trump stock profits 65 S&P stocks hit 52-week closing highs on Friday, and 19 of those were up 15% or more last week65 stocks in the S&P 500 hit 52-week closing highs on Friday, and 19 of those were up 15% or more last week., says Phil van Doorn.

Regional U.S. bank stocks are where the money is 4 reasons why conditions for outperformance are shaping up Conditions for regional bank stocks to outperform in 2017 are shaping up neatly, writes Jeff Reeves

J.C. Penney reports worse-than-expected salesJ.C. Penney Co. posted a surprising decline in sales, citing softness in apparel, and lowered a key sales metric. Penney shares, which rose 5.4% on Thursday following encouraging quarterly results from other department-store operators, fell 9% to $8 in premarket trading. The company's same-store sales fell 0.8% in the quarter, down from 6.4% growth last year and well below the 2.2% increase analysts polled by Thomson Reuters were expecting.

S&P 500 nails the 200-day average, spikes to challenge major resistance Focus: Volatility spike improves sentiment backdrop, VIX, SWFT, CWEI, TTMI, LECOThe S&P 500 is vying to conclude a nine-session losing streak Monday, its longest since 1980. Against this backdrop, the S&P has bottomed within one point of the 200-day moving average — a widely-tracked longer-term trending indicator — and reversed sharply early Monday to challenge the 2,117 breakdown point. A close higher would place the brakes on bearish momentum.

U.S. benchmarks violate major support, VIX signals complacency Focus: Volatility Index signals complacency, Gold, silver and miners come to lifeTechnically speaking, the U.S. benchmarks are off to an inauspicious, if not outright bearish, November start. Perhaps most notably, the S&P 500 has violated major support at 2,117, raising the flag to an intermediate-term trend shift, pending repairs. A nearly immediate reversal higher would place the brakes on bearish momentum.

S&P 500 teeters on major support amid tightening political race Focus: Crude oil violates major support, USO, VLO, PYPL, AWK, AXPTechnically speaking, the U.S. benchmarks are starting November — and the best six-month seasonal span — against an increasingly tenuous backdrop. Consider that the S&P 500 is back for its latest crack at the 2,117 support, while the small- and mid-cap benchmarks have concurrently reached three-month lows.

S&P 500 teeters on major support amid tightening political race Focus: Crude oil violates major support, USO, VLO, PYPL, AWK, AXPTechnically speaking, the U.S. benchmarks are starting November — and the best six-month seasonal span — against an increasingly tenuous backdrop. Consider that the S&P 500 is back for another crack at the 2,117 support, while the small- and mid-cap benchmarks have concurrently reached three-month lows.

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